It seems reasonable to take the time span between the date when 20% of the firms had
Chapter 1, Problem 5(choose chapter or problem)
It seems reasonable to take the time span between the date when 20% of the firms had introduced the innovation and the date when 80% of the firms had introduced the innovation, as the rate of imitation. (a) Show from our model that this time span is 4(ln2)/k. (b) For each of the twelve innovations, compute this time span from the data in Table 1, and compare with the observed value in Figure 3.
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